Finding a lifeline for the poor and the financial institutions that serve them (Opportunity International)
As part of the Humanity Hub’s first seasonal programming theme, focusing on COVID responses, we will share insights by members of the Humanity Hub community and the Hague Peace & Justice ecosystem. This week, we are spotlighting Opportunity International‘s blog post on supporting the financial institutions and social models which define the sector needs to be a priority for Governments and donors.
The COVID-19 crisis has already hit the poor hard, and will hit them harder.
Microfinance Institutions are close to affected groups and provide an essential lifeline – but are themselves under threat as deposits fall and the poor struggle with repayments. Supporting the financial institutions and social models which define the sector needs to be a priority for Governments and donors. Opportunity International offers a three point plan: digitisation; financial support; and, above all, a platform so that the voices can be heard, of the poor, and those who work most closely with them.
